June 15, 2018

Our Director, Mr Rakesh Reddy’s views on the increased housing loan limit published in Vijay Karnataka newspaper

Keshav Prasad, |, Vijay Karnataka

The government approved a 33 per cent increase in carpet area of houses eligible for interest subsidy under its affordable housing programme, called Pradhan Mantri Awas Yojana. For middle-income group (MIG-I) people, to avail credit linked subsidy scheme (CLSS), the carpet area of a house has been enhanced to 160 sq m from 120 sq m. and to 200 sq m from 150 sq m in case of MIG –II.  Earlier it was 120 sq m for MIG-I and 150  sq m for MIG-II, but now,  with this expansion, the construction sector will get a boost.

Commenting on the benefits, Mr Rakesh Reddy, Director, Aparna Constructions said,

RBI has increased the housing loan limit for 35 Lakhs in Metro cities under Pradhan Mantri Awas Yojna (PMAY). It’s a welcome move from the RBI and along with this, the carpet area is also extended.  It will help the realty sector to grow further.”